E marketplaces by Emanuel Baisire

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An online market, usually B2B, in which buyers and sellers exchange goods or services; the three types of e-marketplaces are private, public, and consortia
marketspace
A marketplace in which sellers and buyers exchange goods and services for money (or for other goods and services), but do so electronically

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E marketplaces by Emanuel Baisire

  1. 1. E-Marketplaces: Mechanisms, Tools, and Impacts of E-commerce
  2. 2. IS 671: Electronic Commerce Lecture 2 2-2
  3. 3. IS 671: Electronic Commerce Lecture 2 2-3
  4. 4. • e-marketplace An online market, usually B2B, in which buyers and sellers exchange goods or services; the three types of e-marketplaces are private, public, and consortia • marketspace A marketplace in which sellers and buyers exchange goods and services for money (or for other goods and services), but do so electronically IS 671: Electronic Commerce Lecture 2 2-4
  5. 5. • E-MARKETPLACE COMPONENTS AND PARTICIPANTS – digital products Goods that can be transformed to digital format and delivered over the Internet – front end The portion of an e-seller’s business processes through which customers interact, including the seller’s portal, electronic catalogs, a shopping cart, a search engine, and a payment gateway IS 671: Electronic Commerce Lecture 2 2-5
  6. 6. – back end The activities that support online order fulfillment, inventory management, purchasing from suppliers, payment processing, packaging, and delivery – intermediary A third party that operates between sellers and buyers IS 671: Electronic Commerce Lecture 2 2-6
  7. 7. • TYPES OF E-MARKETPLACES – Private E-Marketplaces • sell-side e-marketplace A private e-marketplace in which one company sells either standard and/or customized products to qualified companies • buy-side e-marketplace A private e-marketplace in which one company makes purchases from invited suppliers – Public E-Marketplaces IS 671: Electronic Commerce Lecture 2 2-7
  8. 8. • storefront A single company’s Web site where products or services are sold • e-mall (online mall) An online shopping center where many online stores are located IS 671: Electronic Commerce Lecture 2 2-8
  9. 9. • TYPES OF STORES AND MALLS – – – – General stores/malls Specialized stores/malls Regional versus global stores Pure-play online organizations versus click-and-mortar stores • Web portal A single point of access, through a Web browser, to critical business information located inside and outside (via Internet) of an organization IS 671: Electronic Commerce Lecture 2 2-9
  10. 10. • Types of Portals – – – – – Commercial (public) portal Corporate portals Publishing portals Personal portals mobile portal A portal accessible via a mobile device – voice portal A portal accessed by telephone or cell phone – Knowledge portals http://www.quest.com/knowledge-portal/ IS 671: Electronic Commerce Lecture 2 2-10
  11. 11. • THE ROLES AND VALUE OF INTERMEDIARIES IN E-MARKETPLACES – infomediaries Electronic intermediaries that provide and/or control information flow in cyberspace, often aggregating information and selling it to others – e-distributor An e-commerce intermediary that connects manufacturers with business buyers (customers) by aggregating the catalogs of many manufacturers in one place—the intermediary’s Web site IS 671: Electronic Commerce Lecture 2 2-11
  12. 12. • electronic catalogs (e-catalogs) The presentation of product information in an electronic form; the backbone of most e-selling sites – Online Catalogs making Paper Catalogs extinct. • EC SEARCH ACTIVITIES, TYPES, AND ENGINES – Types of EC Searches • Internet/Web Search • enterprise search The practice of identifying and enabling specific content across the enterprise to be indexed, searched, and displayed to authorized users IS 671: Electronic Commerce Lecture 2 2-12
  13. 13. • desktop search Search tools that search the contents of a user’s or organization’s computer files, rather than searching the Internet. The emphasis is on finding all the information that is available on the user’s PC, including Web browser histories, e-mail archives, and word-processed documents, as well as in all internal files and databases IS 671: Electronic Commerce Lecture 2 2-13
  14. 14. • search engine A computer program that can access databases of Internet resources, search for specific information or keywords, and report the results – Software (Intelligent) Agents – Voice-Powered Search IS 671: Electronic Commerce Lecture 2 2-14
  15. 15. • electronic shopping cart An order-processing technology that allows customers to accumulate items they wish to buy while they continue to shop – Product Configuration IS 671: Electronic Commerce Lecture 2 2-15
  16. 16. • auction A competitive process in which a seller solicits consecutive bids from buyers (forward auctions) or a buyer solicits bids from sellers (backward auctions). Prices are determined dynamically by the bids • electronic auctions (e-auctions) Auctions conducted online – Innovative Auctions IS 671: Electronic Commerce Lecture 2 2-16
  17. 17. • dynamic pricing Prices that change based on supply and demand relationships at any given time – One Buyer, One Seller – One Seller, Many Potential Buyers • forward auction An auction in which a seller entertains bids from buyers. Bidders increase price sequentially IS 671: Electronic Commerce Lecture 2 2-17
  18. 18. • reverse auction (bidding or tendering system) Auction in which the buyer places an item for bid (tender) on a request for quote (RFQ) system, potential suppliers bid on the job, with the price reducing sequentially, and the lowest bid wins; primarily a B2B or G2B mechanism • “name-your-own-price” model Auction model in which a would-be buyer specifies the price (and other terms) he or she is willing to pay to any willing and able seller. It is a C2B model that was pioneered by Priceline.com IS 671: Electronic Commerce Lecture 2 2-18
  19. 19. IS 671: Electronic Commerce Lecture 2 2-19
  20. 20. – Many Sellers, Many Buyers • double auction An auction in which multiple buyers and their bidding prices are matched with multiple sellers and their asking prices, considering the quantities on both sides IS 671: Electronic Commerce Lecture 2 2-20
  21. 21. IS 671: Electronic Commerce Lecture 2 2-21
  22. 22. – Limitations of E-Auctions • Minimal Security • Possibility of Fraud • Limited Participation – Impacts of Auctions • • • • • Auctions as a Coordination Mechanism Auctions as a Social Mechanism to Determine a Price Auctions as a Highly Visible Distribution Mechanism Auctions as an EC Component Auctions for Profit for Individuals IS 671: Electronic Commerce Lecture 2 2-22
  23. 23. • ONLINE BARTERING – bartering The exchange of goods and services – e-bartering (electronic bartering) Bartering conducted online, usually in a bartering exchange – bartering exchange A marketplace in which an intermediary arranges barter transactions • ONLINE NEGOTIATING IS 671: Electronic Commerce Lecture 2 2-23
  24. 24. • Mechanism Aids for Web 2.0 Tools – tag A nonhierarchical keyword or term assigned to a piece of information (such as an Internet bookmark, digital image, video clip, or any computer document) – folksonomy (collaborative tagging, social classification, social indexing, social tagging) The practice and method of collaboratively creating, classifying, and managing tags to annotate and categorize content IS 671: Electronic Commerce Lecture 2 2-24
  25. 25. • avatars Animated computer characters that exhibit humanlike movements and behaviors • BUSINESS ACTIVITIES AND VALUE IN VIRTUAL WORLDS – Types of business activities in virtual worlds: • Creating and managing a virtual business • Conducting regular business activities • Providing services for those who build, manage, or make money with virtual properties IS 671: Electronic Commerce Lecture 2 2-25
  26. 26. • COMPETITION IN THE INTERNET ECOSYSTEM – Competitiveness Factors • • • • • • • • Lower search costs for buyers Speedy comparisons Lower prices Customer service Barriers to entry are reduced Virtual partnerships multiply Market niches abound differentiation Providing a product or service that is unique IS 671: Electronic Commerce Lecture 2 2-26
  27. 27. – Customization, Personalization, and Competition • customization Creation of a product or service according to the buyer’s specifications • personalization The ability to tailor a product, service, or Web content to specific user preferences IS 671: Electronic Commerce Lecture 2 2-27
  28. 28. IS 671: Electronic Commerce Lecture 2 2-28
  29. 29. IS 671: Electronic Commerce Lecture 2 2-29
  30. 30. • TRANSFORMING ORGANIZATIONS – Technology and Organizational Learning – The Changing Nature of Work – Disintermediation and Reintermediation • disintermediation Elimination of intermediaries between sellers and buyers • reintermediation • Disintermediated entities or newcomers take on new intermediary roles IS 671: Electronic Commerce Lecture 2 2-30
  31. 31. • REDEFINING ORGANIZATIONS – New and Improved Product Capabilities – mass customization A method that enables manufacturers to create specific products for each customer based on the customer’s exact needs – build-to-order (pull system) A manufacturing process that starts with an order (usually customized). Once the order is paid for, the vendor starts to fulfill it IS 671: Electronic Commerce Lecture 2 2-31
  32. 32. IS 671: Electronic Commerce Lecture 2 2-32
  33. 33. IS 671: Electronic Commerce Lecture 2 2-33

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